Annual report pursuant to Section 13 and 15(d)

INCOME TAXES (Tables)

v3.3.1.900
INCOME TAXES (Tables)
12 Months Ended
Dec. 31, 2015
Income Tax Disclosure [Abstract]  
Schedule of income tax provision
For the years ended December 31,   2015   2014   2013
(in thousands)            
Current:                        
Federal   $ 68,667     $ 59,053     $ 54,778  
State     11,335       9,936       9,259  
Foreign     7,534       4,391       3,883  
Total current tax     87,536       73,380       67,920  
Deferred:                        
Federal     1,286       6,123       (468 )
State     2,078       2,159       730  
Foreign     129       158       94  
Total deferred tax     3,493       8,440       356  
Total income tax provision   $ 91,029     $ 81,820     $ 68,276  
Schedule of primary factors causing income tax expense to be different than the federal statutory rate
For the years ended December 31,   2015   2014   2013
(in thousands)            
Income tax at statutory rate   $ 85,112     $ 76,820     $ 67,063  
State income tax expense (net of federal benefit)     8,377       7,429       6,498  
Foreign tax benefit     (1,729 )     (1,760 )     (2,661 )
Other     (731 )     (669 )     (2,624 )
  Total income tax provision   $ 91,029     $ 81,820     $ 68,276  
Schedule of significant components of the deferred tax assets and liabilities
December 31,   2015   2014
(in thousands)        
Deferred tax assets:                
Termite accrual   $ 1,968     $ 1,887  
Insurance and contingencies     24,991       26,316  
Unearned revenues     15,026       15,086  
Compensation and benefits     15,288       15,641  
State and foreign operating loss carryforwards     10,629       10,454  
Bad debt reserve     4,779       4,520  
Other     4,133       1,217  
Pension     3,768       11,439  
Valuation allowance     (3,969 )     (3,415 )
Total deferred tax assets     76,613       83,145  
Deferred tax liabilities:                
Depreciation and amortization     (10,985 )     (9,035 )
Intangibles and other     (24,963 )     (23,465 )
Total deferred tax liabilities     (35,948 )     (32,500 )
Net deferred tax assets   $ 40,665     $ 50,645  
Schedule of valuation allowance
December 31,   2015   2014
(in thousands)        
Valuation allowance at beginning of year   $ 3,415     $ 2,245  
Increase in valuation allowance     554       1,170  
Valuation allowance at end of year   $ 3,969     $ 3,415  
Reconciliation of the beginning and ending amount of unrecognized tax benefits
December 31,   2015   2014
(in thousands)        
Balance at Beginning of Year   $ —       $ —    
Additions for tax positions of prior years     2,554       —    
Settlements     —         —    
Balance at End of Year   $ 2,554     $ —